RE: Let's burn some steem... I need your help.

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RE: Let's burn some steem... I need your help.

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costanza in #burnsteem • 6 years ago

I agree that having some burn mechanics would go a long way already to stabilize the Steem price. This still doesn't solve the issue that there is little to no reasons to power up and hold a lot of SP these days (at least for average users). When I started on Steem a few years back, you really needed SP to do better on the platform. Right now with all the upvotes coming from the Dapps & Tribes (Steemmonsters, Actifit, Drugwars, esteem, 3Speak, Dtube, PAL, SPORTS, ...) there is almost no difference to how much Steem you can earn/mine between having 100SP which gives you all the RC you need and having 10k SP.

How about this for an idea: If all the DAPPS linked their upvotes directly to the SP someone has giving bigger upvotes to bigger SP holders in a fair way there would be an actual reason to power up and at the same time cut out a lot of abuse since it's easy to just make a new account and start farming all the free dapp upvotes. I honestly want to power up more but I see no reason currently and all I see is people powering down and dumping their steem for steemmonsters cards, different steem-engine tokens, ...

Looking at the numbers there seems to be a connection between dapps / tribe tokens and the price of Steem that continues to go down. What Steem needs is good reasons to hold SP along with some systematic burning mechanics it could do wonders for the STEEM price getting it back into a positive spiral.

6 years ago in #burnsteem by costanza

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ats-david 6 years ago

Looking at the numbers there seems to be a connection between dapps / tribe tokens and the price of Steem that continues to go down.

I’m not sure if you’re right or wrong about that, but one of the problems with SE and their tokens/tribes is that they mostly don’t airdrop on Steem users. So there’s no reason to hold the underlying token. And maybe their goal is to not use or care about Steem and its tokens...but then why bother developing on Steem at all?

Seems to me that people are just looking for more ways to extract value from Steem rather than try to add value to it. Funny how a lot of the new SE tokens/tribes airdrop on PAL holders...as if they’re just paying tribute to Aggroed and his cult. It’s not surprising though, seeing who the people are.

And as far as anyone can tell, not a single shit has been given about the entire SE platform by anyone outside of Steem. It just appears to be more insider circle-jerking...just like Steem/Steemit has been for most of the past three years.

How innovative!

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nextgen622 6 years ago

Exactly. More incentives for powering up is what we need.

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crypto.piotr 6 years ago

Hi @costanza

Indeed. Burning is always great addition, but it's just an addition.

Circulating supply is growing way faster than we could burn tokens, so this is not a real solution. Giving people non-financial reasons to STAKE their tokens should be the way to go.

Simple example: if I would know that publications everyone feed are being displayed with large stakeholders downwards, then I would know that I'm increasing chance that my followers will see my publication in their feed if my STAKE would be high.

For many people and businesses that would bring great value to their staked tokens. Value that isn't based on financial rewards increasing current supply.

Yours
Piotr

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